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The name of the 2i's derived from earlier owners, Freddie and Sammy Irani, who ran the venue until 1955.[1] It was then taken over by Paul Lincoln – an Australianwrestler and wrestling promoter known as "Dr. Death" – and Ray Hunter. They opened it as a coffee bar on 22 April 1956.[2][3] Tom Littlewood, previously its doorman and a judo instructor, became its manager in 1958.[1]

The coffee bar allowed standing room for about 20 people, and had a serving counter with an espresso coffee machine, orange juice dispenser, and sandwich display case. The coffee bar was run by Jon Vickers-Jones who was the assistant manager. He would help with setting up the stage area for the musicians and would often record them rehearsing on a Grundig Tape recorder. A door at the back led to the manager's office, and a narrow stairway led down to a "dismal and dark cellar about the size of a large bedroom, lit by a couple of weak bulbs. At one end was the small 18 inch stage made of milk crates with planks on top of them. There was just one microphone, left over from the Boer War, and some speakers up on the wall."[2] In November 1956, Paul Lincoln opened a second venue, The New 2I’s Club, which ran every weekend in the multi-scene cellar at 44 Gerrard Street.[citation needed]

The 2i's closed in 1967. It later became the Dome Café Bar and then the Boulevard Bar. The site then became The House of Ho, a modern Vietnamese restaurant owned by world-renowned chef Bobby Chinn. Every Sunday the restaurant holds 'Bobby's Rock'n'Roll Brunch' to celebrate the history of the site [8] and its rock and roll roots.[9] The House of Ho was rebranded HO and this branch has now closed (as of May 2016).